Should LBI Get Involved In BroFi?

in LeoFinance5 years ago


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Have you heard about @brofi yet?

There is a chance you did not. This is a new project that is being put out by @brofund. It is in the "pre-announcement" phase as it is still undergoing testing.

Thus, we are in the very, very early stages of the project.

So what is BroFi?

It is another DeFi opportunity that is right here on hive. However, this one focuses upon Hive-Engine and the tokens on there.

Basically, it is similar to the EDS token in that it utilizes the inflation of a token to generate a return. In this situation, the curation being done from the tokens delegated will be used to buy BRO tokens off the open market and distribute them to delegators. There are a few different delegation pools, which are nothing more than the delegation of each token. Thus, all the LEO delegated is in the LEO pool.

Each pool is ranked according to voting. The weight of each vote is based upon the number of BRO an account holds.

The goal of this project is to establish a powerful curation account in each tribe while also providing a sink for the tokens. Since many are not interested in a lot of the tokens out there, they are just dumped on the open market.

With this situation, however, there is something that many value being used as incentive. The BRO token enjoyed a great run up over the past year and many expect further success down the road. Thus, being able to generate a return in that token for delegating is of interest to people.

Is it of interest to @lbi-token?

As we know, posts results in many tokens being paid out. Often, they are not of interest to LBI. We have a primary focus and should not deviate from that.

That said, we do seek to gain a return wherever we can. Having a few of the BRO tokens coming into LBI each week cannot hurt the return. Especially since this opens it up to more dividends being paid out, which it could roll back into the BROFI fund.

At this point, we have no idea what the returns are. There is no track record since it is still in testing. This post was put out in an effort to let everyone know how things are starting to play out.

Since I personally do not look closing at the LBI Hive-Engine account, I have not monitored what we received in those tokens each week. My presumption is that most, if not all, are sold off for LEO.

That said, it might be worthwhile for LBI to consider something like this. This focuses upon roughly half a dozen tokens such as LEO, CTP, STEM, WEED, CCC, and PAL (there might be some others). We could even discuss taking perhaps 10K LEO and delegating it. This would affect our curation rewards but could open us up to another asset flow that could prove beneficial long term.

If a system like this keeps operating in a circular loop, we will likely find that it is getting more valuable over time, thus increasing the ROI that is paid out. This is what we are witnessing with EDS. Could something similar happen with BroFi?

The key here is that is requires little effort from the LBI team. A few tokens delegated as they come in and then collect more returns. This will help to diversify the LBI holdings some while taking advantage of the success of the BroFund and its token.

Let us know what you think.

This article put up by @taskmaster4450le.

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It's definitely nice and I delegated away some tokens to earn some rewards. However, I am waiting more for the votes to finish before determining the profitability of the pools. I think its great that I can toss my tokens in the pool to earn some passive income. Once it grows big enough, maybe I can just keep re-investing dividends until it becomes big enough.

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I don't think we would benefit from delegating Leo, but since Bro provides some passive income and we have lots of them tokens why not to delegate some CCC, Ctp, PAL and others and sell them later

JUST DO IT

that's my humble opinion :P

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That said, it might be worthwhile for LBI to consider something like this. This focuses upon roughly half a dozen tokens such as LEO, CTP, STEM, WEED, CCC, and PAL (there might be some others). We could even discuss taking perhaps 10K LEO and delegating it. This would affect our curation rewards but could open us up to another asset flow that could prove beneficial long term.

@lbi-token sir,considering it is not a bad idea ,maybe we should listen to more opinion from others then you can now take the final decision sir.....

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Will you someday stop having so much good ideas ?
Even with my low from several tokens I get more than $0.01 BRO each day. What I delegated is really small, less than 2Hive in total.

For me, you should do it !

Nice numbers. Looking forward to seeing what I get for my delegations.

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It's simply as it gets BRO has done well and since this a pool on hive and HE token, it's great, I think LBI getting involved will just about create more opportunities.

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I just invested some of my stuff that I have sitting in the Hive engine into it. I am not sure if this is something someone would need to write up a proposal for and put it to vote. The only bad thing about that is the vote for proposals doesn't kick into effect for a while yet I think. I honestly don't know for sure. It would be interesting to see what kind of tokens the account is holding over on the Hive-Engine. Unless like you said they are just rolling those earnings back into Leo.

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Yup, I found a great use for those of my tokens that don't get a "workout."

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No proposal would be required for such things as there would not be enough time. We never voted on CUB but i think most were happy after I wrote a post explaining with LP's and dens LBI had invested into and why those LP's and den were picked.

I'll be holding back on this, it's a great idea but i'd like to see some results first.

SSUK

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That makes sense to me, but I wasn't sure what the process was. Also a great point about Cubs. I think there is a certain trust involved with LBI that we know the best moves possible will be made with our investments.

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@lbi-token yeah its good you get to see results first before jumping into any decision...i also love the way you put alot of effort to keep making LBI a success....keep it up sir....

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whatever decision that will make the LBI token become greater will always be welcomed by we that are fans of the LBI....

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Yes as it is creating more value adding to the pool value of LBI long term. This is an investment fund and these are worthwhile investments as having the selected few they will offer value. PAL I am still confused as where the value is as they said there would be a use case for it and struggling to see it still. I have PAL staked but do question myself.

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They kind of tricked up with their last post that sounded very promising.

I was getting ready to sell and held on longer.

Now I have to wait for they next hype post to sell.

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Hell Yes, BroFi seems an exciting way to get into full circle. Delegate to get Bro Tokens and Bro Tokens will help you get daily Drips of various tokens. Such a cool concept. Please do.

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If it adds more value to LBi earnings, why not?. I think it'll be a good decision long term as we kind of spread our income stream coupled with the fact that bro token has achieved some success since it's creation. The brofi is likely to repeat such success

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Thanks for the heads up Task. I didn't know of BroFi yet. As for LBI, I'd say yes, it receives more BRO tokens as passive income and there's no more dumping of the unwanted tokens.

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It wont likely be much since LBI doesnt have much to delegate. However, it could end up providing a bit of a trickle in of other tokens.

Even a few pennies for doing nothing is a few pennies....and for doing nothing.

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I would go with Yes on the matter, LBI should invest in this project.

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BROFi looks a cool project on Hive's second layer. Things are getting more beautiful with many investment options emerging. We all have to look at the pros and the cons before finally dipping out foot. For me, trying out options on Hive's second layer is cool. Fully decentralized!

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H-E is presently some opportunities. For LBI, the payout wont be great but if it adds even .5% to our yearly return, that is a help.

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Not sure the returns would be better as self-managed by LBI. Do you think they are?

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Dont have people to manually curate the other tribes.

Are you volunteering?

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i would have love to volunteer but i do not have enough LEO power.... @lbi-token

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agree for other tribes it should work out well

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Since I personally do not look closing at the LBI Hive-Engine account, I have not monitored what we received in those tokens each week. My presumption is that most, if not all, are sold off for LEO.

I'm not sure what LBI does with some of the other tokens we receive either. I would think delegating some of them to BroFi pools would be a good idea. At least to see what kind of return we might get.

I took most my staked Hive Engine tokens that weren't doing much and delegated to BroFi pools. Haven't done any LEO or HIve yet but may give that a shot also.

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Just when I think I know enough, new information comes out about other projects hahaha. It looks pretty good and sustainable in the long run, which is what's really important. Thanks for the information my friend!

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If it's not that much of a hassle for the team, I think it is worth a shot. I mean if it doesn't work out you can always withdraw your delegation right ?

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Yes.

The difference is what would be delegated is now just sold off.

It seems everyone is on the side of giving it a shot.

Not going to be huge numbers and no hassle to really get it done. A couple buttons pushed a week.

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Not going to be huge numbers and no hassle to really get it done. A couple buttons pushed a week.

@lbi-token yeah patience is a virtue,just ensure you take your time before taking any decision,i believe you will take a great decision at the end of it all...

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Anything that locks up value in the ecosystem AND pays dividends is a great way to grow in a 3D manner.

It may also make the tribes friendlier to LBI (not that anyone is not friendly already) knowing that LBI will be taking their value and storing it.

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I think you should go for it!

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Seems worth a shot. Personally, I would start with a smaller amount and check returns for a week/10 days, do the math, and then decide whether to increase the delegation but...that's just me.

Speaking of returns, I keep getting little drips of this and that in my wallet and I have no idea where they are coming from. Is there a place I can go to see when and where these "rewards/divs" are coming from?

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As soon as it's more profitable than curation why not :)

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just read the article...i think the way you put it make very much sense and i think you should move this direction...
i think it will benefit all of us
plus i think it will increase the demand for LBI tokens out there, cause as you understand we are going to advertise it...
i think it adds value to leofinance community

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